Hello Friends! How are you all? In my previous post i have already mentioned What are Fixed and Floating Interest Rates. After that today in this post i am going to share What is Prepaid Fuel Cards and It’s Benefits. Keeping costs under control is imperative for any successful business. Certain expenses can spiral out of control more quickly than others due to oversight, mismanagement or outright fraud. Fuel and gasoline costs have a tendency fall into this category.
Prepaid fuel cards can help your business forecast and manage the amounts spent on gasoline every month, every week, every day and every hour. Take a look at some of the benefits of introducing prepaid gas cards into your business practices.
Create Spending Limits
By issuing prepaid fuel cards to your drivers, you can be assured your fuel costs will not come as a surprise at the end of each reporting period. Using a card system allows your business to predict the maximum amount of money that will be spent on fuel by your employees.
Easily set spending limits that work best for your business environment.
Prepaid gas cards can be monitored in real time, 24 hours a day. Receipts are collected automatically giving your business up-to-the-minute data that can be helpful in identifying patterns and trends. Quickly and easily see where and by whom charges are being made.
Adjust Purchasing Options
Fuel cards can regulated online by desktop or mobile software to allow only purchases that your business deems necessary. Restrict charges solely to gasoline, allow for other automobile incidentals such as oil and wiper fluid or even allow for food, beverage or accommodation purchases to be made. You can modify and change the parameters quickly with easy-to-use software.
Quickly Top Up Or Cancel
Topping up employee cards with extra money can be done quickly and remotely using simple software. The transactions are instantaneous meaning no downtime or stranded workers. Conversely, if a card is lost or stolen it can be easily and instantaneously cancelled at any time of day which provides a level of security that is unavailable with cash or debit cards.
Create Secure Accounts
Issuing a card to an employee can be as simple as using their name and email address. At the same time, a wide array of issuing options exist to create multiple levels of security or purchasing hierarchies. Cards can be issued physically or virtually allowing for the utmost in flexibility and security.
Decrease Dependence On Cash
By issuing prepaid cards to employees, no longer will they need to carry cash for business purposes. There won’t be any more confusion of mixing up business and personal money or losing cash outright.
Time will also be saved by both the employer and employee when it comes to expense accounting and reimbursement. And if an employee needs access to emergency funds, there’s no need to deal with banks or money transfer companies and their hold times.
By using Emburse prepaid cards your business will benefit with added security, streamlined accounting, improved record keeping and reduced bookkeeping costs. Feel free to get in touch for a demonstration on how we can help your business better manage your fuel expenses.
I hope This information of Prepaid Fuel Cards is very useful to all of you, This is a guest post published by Mary Lofinmakin. If you like this please share it with your friends via social networking, and if you have any question regarding this post then your can ask with me in below comment box.